1981-031 - Laserfiche WebLink

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is subject to all the terms and conditions of such Resolution. This bond and the coupons appertaining thereto are payable solely from and secured by a lien upon and a pledge of 10 that portion of the Race Track Funds and Jai Alai Fronton Funds 4 Go accruing annually to the County under the provisions of Chapters 550 and 551, Florida Statutes, and allocated to the Board pur- suant to law and the income from the investment of monies held in the funds and accounts established by the Resolution. This bond A does not constitute an indebtedness of the Board or of the County within the meaning of any constitutional, statutory or charter provision or limitation. The lien of the holders of the bonds of this issue on said Race Track Funds and Jai Alai Fronton Funds is junior and subordinate to the lien thereon of the holders of the outstanding Capital Improvement Revenue Bonds, Series 1980, dated April 1, 1980. It is expressly agreed by the holder of this bond that such holder shall never have the right to require or compel the levy of ad valorem taxes for the payment of the principal of and interest on this bond or for the making of any sinking fund, reserve or other payments provided for in the Resolution. This bond and the indebtedness evidenced thereby shall not constitute a lien upon any property of the Board or upon any property of or in the County but shall constitute a lien only upon the portion of the Race Track Funds and Jai Alai Fronton Funds accruing annually to the County and the income from investments in the funds and accounts established by the Resolution in the manner above recited. It is hereby certified and recited that all acts, con- ditions and things required to exist, to happen and to be per- formed precedent to and in the issuance of this bond exist, have happened and have been performed in regular and due form and time as required by the Statutes and Constitution of the State of Florida applicable thereto, and that the issuance of this bond